Australand, Doyle roll on

Listed developer
Australand Property Group
and its joint-venture partner, the Doyle Group, have struck a $20 million pre-commitment with communications firm
Salmat
in Brisbane.

The deal comes soon after the joint venture won the right to build $33 million worth of facilities for retailer Target and pharmaceuticals company Kimberly-Clark in Brisbane.

Australand’s regional general manager for commercial and industrial, Reini Otter, said the group’s land bank in the south-east Queensland market positioned it in a way to meet rising demand and capitalise on “improving industrial market fundamentals".

“The flurry of recent pre-commitments we have secured in south-east Queensland is indicative of the robust demand for quality industrial facilities in the region," Mr Otter said.

Salmat has pre-committed to a 9200 square metre centre at the joint venture’s Southlink Business Park in south Brisbane. The facility will have more than 1000 sq m of office space and more than 7500 sq m of warehouse space on a 22,000 sq m site.

Craig Doyle, of the Doyle Group, said the business park was the main attraction for most large-scale industrial businesses. “This transaction is another example of how an ability to offer certainty, a thorough understanding of a user’s requirements and the excellent location of Southlink makes our estate a compelling business case," he said.

Australand will begin construction of the centre this year, with completion due mid next year.

Colliers International’s Simon Beirne negotiated the transaction.

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“The south-east Queensland industrial market has shown significant improvement in 2010 compared to 2008 and 2009, with the number of industrial leasing transactions increasing as the recovery gains greater momentum," he said.